Specific details about how the station will look have not yet been finalised, but the councils have revealed they are looking to remodel the transport hub and create a new entrance to the east of the site.

The new entrance will allow people to access the station from St Philips and Temple Quarter - both of which are set to be developed in to a new Enterprise Zone including Bristol University’s new £300million campus and up to 11,000 new homes.

“At long last, that is about to change – thanks to the energy and commitment of the partnership we have brought together.

“A transformed station will finally give us a railway station fit for the 21st century, acting as a gateway to the West of England. The aim is that the redeveloped station will be accessible from the east of Bristol, removing a barrier that has divided the city.

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“The Combined Authority is committing up to £2m into the masterplan development and I look forward to seeing a scheme which is deliverable, affordable and meets the high expectations of the region, in terms of delivering a new mixed-use quarter (Temple Quarter) and a gateway to the West of England.”

Designed by Isambard Kingdom Brunel in the early 19th century, Grade I listed Temple Meads is one of the oldest surviving railway buildings in the world and one of the last remaining unimproved mainline train stations in the UK.

It already receives around 10 million passengers a year and this is expected to rise to more than 22 million by 2030, meaning much greater capacity, improved access and better facilities are needed in the long term.

Network Rail - which owns the station buildings - is investing £3 million in the station to install two new sets of ticket barriers to ease congestion as passenger numbers increase.

Bristol Mayor Marvin Rees and Metro Mayor Tim Bowles with the team tasked with creating the masterplan (Image: Bristol Live)

The new barriers - which will treble the current number available - will open in October close to the entrance of the station where taxis currently queue.

Network Rail has also pledged £40m to renovate the historic Temple Meads roof over the next five years.

Director of route business development for Network Rail, Francis McGarry, said: “The railway station is often the shop window to a city and we are proud of the heritage of Brunel’s Grade I listed Bristol Temple Meads.

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“We are also committed to improving the facilities to enhance the experience for passengers as well as ensuring the station can cope with the growing numbers that use the station.”

The wider consortium which will develop the Temple Meads masterplan is led by Mott MacDonald and also includes Weston Williamson + Partners architects, AWW Architects, Alan Baxter associates, GVA, Deloitte, Turley, TLT and Pragma.